Can someone with a felony record be a loan officer? primarily doing reverse mortgages?

Unfortunately ... yes. Corporations can hire unlicensed agents to be loan officers, and while there should be an effort to do background checks, there often is not. If you do business with a company, make sure to look for and ask for their licensing information.Can someone with a felony record be a loan officer? primarily doing reverse mortgages?
Not in my state or in most states where they require you to be licensed as a loan officer.





You can't even be an LO here if you have a judgement on your credit, so as you can imagine, convicted felons are out of the queston.





Any corporation, with the passing of the new privacy laws, are actually REQUIRED to do background checks on their employees that are handling account and identity sensitive information, if they are an FDIC insured bank.





I know of no bank that would be willing to take a chance like that...a private broker might, but he would be a fool.Can someone with a felony record be a loan officer? primarily doing reverse mortgages?
In Texas you can be a loan officer without a license, so I guess there may not be anyway you are checked out at all. In most states they license this so you would have to check out the laws in your state.